empty
 
 

2020.02.2014:36:00UTC+00U.S. Leading Economic Index Climbs Much More Than Expected In January

Indicating the current economic expansion will continue through the first half of 2020, the Conference Board released a report on Thursday showing a much bigger than expected increase by its reading on leading U.S. economic indicators.

The Conference Board said its leading economic index climbed by 0.8 percent in January after falling by 0.3 percent in December. Economists had expected the index to rise by 0.3 percent.

The bigger than expected rebound by the index reflected a sharp drop in initial jobless claims, increasing housing permits, an improvement in consumers' outlook on the economy and positive contributions from financial indicators.

"The LEI's six-month growth rate has returned to positive territory, suggesting that the current economic expansion - at about 2 percent - will continue through early 2020," said Ataman Ozyildirim, Senior Director of Economic Research at the Conference Board.

He added, "While weakness in manufacturing appears to show signs of softening, the COVID-19 outbreak may impact manufacturing supply chains in the US in the coming months."

The report also said the coincident economic index inched up by 0.1 percent in January after showing no change in December.

Meanwhile, the lagging economic index came in unchanged in January after edging down by 0.1 percent in the previous month.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback